Remain cautious on defense stocks amid Iran escalation: Wells Fargo [Seeking Alpha]
L3Harris Technologies, Inc. (LHX)
Last l3harris technologies, inc. earnings: 2/4 06:30 am
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Source: Seeking Alpha
“While the risks of a broader conflict in the Middle East have grown, we don't see a clear path to higher U.S. defense spending,” Matthew Akers, analyst at Wells Fargo, said in the report. “We remain cautious on the group and prefer L3Harris Technologies ( LHX ) and RTX ( NYSE: RTX ).” U.S. defense spending is currently capped as part of a budget deal approved by Congress. A $95 billion supplemental package to support U.S. allies, replenish weapons provided to Taiwan and send humanitarian aid to civilians in Ukraine and Gaza has languished for the past two months. House Speaker Mike Johnson on Sunday said he will try to win House approval for the spending amid divided support among fellow Republic lawmakers. The supplemental spending is equivalent to about 11% of proposed defense budget for the government's 2025 fiscal year. “We already saw the supplemental bill as more likely than not to pass this year,” according to Wells Fargo. “After this weekend's events, we put the odds a
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LHX
News
- 3M Q1 results preview: Earnings expectations priced, future post lawsuits in focus [Seeking Alpha]Seeking Alpha
- L3Harris Technologies, Inc. (NYSE: LHX) had its price target raised by analysts at Royal Bank of Canada from $245.00 to $250.00. They now have an "outperform" rating on the stock.MarketBeat
- Investors more bullish on L3Harris Technologies (NYSE:LHX) this week as stock ascends 4.4%, despite earnings trending downwards over past five years [Yahoo! Finance]Yahoo! Finance
- How to play aerospace and defense stocks now [Yahoo! Finance]Yahoo! Finance
- L3Harris cuts 5% workforce in cost-saving measure [Reuters]Reuters
LHX
Earnings
- 4/25/24 - Beat
LHX
Sec Filings
- 4/26/24 - Form 10-Q
- 4/25/24 - Form 8-K
- 4/23/24 - Form 4
- LHX's page on the SEC website